Aon plc (NYSE:AON) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Aon plc (NYSE:AON) by 1.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,082 shares of the financial services provider’s stock after acquiring an additional 431 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in AON were worth $8,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in AON. Farallon Capital Management LLC increased its position in AON by 196.7% during the second quarter. Farallon Capital Management LLC now owns 1,875,200 shares of the financial services provider’s stock worth $550,521,000 after buying an additional 1,243,200 shares during the period. Meritage Group LP purchased a new position in shares of AON in the 1st quarter valued at approximately $258,471,000. Bank of New York Mellon Corp grew its stake in shares of AON by 37.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,000,969 shares of the financial services provider’s stock valued at $587,445,000 after purchasing an additional 548,563 shares during the last quarter. Stone Point Capital LLC purchased a new position in shares of AON in the 2nd quarter valued at approximately $151,808,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of AON by 32.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,943,733 shares of the financial services provider’s stock valued at $648,663,000 after purchasing an additional 471,424 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Stock Down 0.2 %

AON opened at $358.05 on Friday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 2.42 and a current ratio of 2.42. Aon plc has a one year low of $268.06 and a one year high of $363.46. The business’s fifty day moving average is $345.94 and its two-hundred day moving average is $315.31. The company has a market cap of $77.78 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.32 and a beta of 0.92.

AON (NYSE:AON) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.76 EPS. Analysts anticipate that Aon plc will post 15.22 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Friday, November 1st. AON’s payout ratio is currently 21.58%.

Analysts Set New Price Targets

Several brokerages have weighed in on AON. Keefe, Bruyette & Woods upgraded AON from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $313.00 to $380.00 in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $335.00 target price on shares of AON in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target on AON from $311.00 to $353.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Piper Sandler lifted their price target on AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company lifted their price target on AON from $300.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $347.06.

AON Company Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.